Anybody else want to sleep until the Dow bottoms out?

Parent Cafe
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<p>Our reason is that although our portfolio has gone way down, it still isn’t at where we would have lost actual money, only gains. So I would feel way worse if we sold now and had actual losses and then it started to go back up. Nobody can guarantee it’s not going to turn around tomorrow. My kids though, have decided to put off putting their IRA money in until early next year.</p>

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<p>garland, some of us have move the money a long time ago. I still invest in stocks for my kid’s IRA even though the account has gone significantly down. I feel really bad for people like my brother who lost at least 2/3 of his 401K money.</p>

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<p>Actually, CS, I did, too. And frankly, I missed a lot of gains, but I do know where I stand. I’m interested in the reasons for doing differently, because I know I am insanely conservative and out of step when it comes to money.</p>

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<p>Humor:</p>

<p>Bank Coupons: <a href=“http://alphaville.ftdata.co.uk/lib/inc/getfile/3081.jpg[/url]”>http://alphaville.ftdata.co.uk/lib/inc/getfile/3081.jpg&lt;/a&gt;&lt;/p&gt;

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<p>Garland, what happens is people sell out and never get back into the market.</p>

<p>If it was so easy to sell out at 8,000 and buy at 6,000 everyone would do it.</p>

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<p>My new retirement plan</p>

<p>[Retirement</a> Plans | The Big Picture](<a href=“http://www.ritholtz.com/blog/2008/11/retirement-plans/]Retirement”>Retirement Plans - The Big Picture)</p>

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<p>Dstark–in what way is it difficult?</p>

<p>CS–funny!</p>

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<p>Nobody knows what is going to happen. It’s all probablilities. Like poker.</p>

<p>Ther’s a chance we can go to 4,000 in the Dow. Or 5,000. Or 6,000. Or 8,000. or 10,000.</p>

<p>Then the stock market has a lot of psychology in it, similar to the stock market of a person. It’s one reason you see the stock market fluctuate so much. :)</p>

<p>When everybody is so negative, you’re close to a low. ;)</p>

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<p>Thanks Dstark. I had gotten the impression from this thread that people seem pretty sure that it was going to keep going down, but maybe that’s the negativity talking.</p>

<p>My S says poker is not gambling…I dunno. He’s definitely doing better than most market-players right now.</p>

<p>We put our savings in RE. It’s becoming worth less too, of course, but land can never become completely worthless!</p>

50

<p>No…poker is gambling… i think your son means he decides how much to bet depending on whether the odds are in his favor…
Anyway… moms aren’t supposed to know about these kind of things. :)</p>

<p>When people talk with certainty about the stock market, it’s nonsense.</p>

<p>There is nobody that knows for sure what the stock market is going to do, not Warren Buffett, nobody.</p>

51

<p>Poker is gambling and stock market isn’t? </p>

<p>[When</a> investing becomes gambling - by Raven Lebeau - Helium](<a href=“http://www.helium.com/items/982906-when-investing-becomes-gambling]When”>http://www.helium.com/items/982906-when-investing-becomes-gambling)</p>

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<p>Investing in the stock market is gambling, but the odds are in favor of investors. Long term. At least that is what I’m told. :)</p>

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<p>Nope, he means he just has to be smarter than everyone else at the table–he’s not playing against the cards, most of the time, just the other people.</p>

<p>And if he’s not sure he’s the best player, than he makes sure the best player is on his right.</p>

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<p>Title: Somali Pirates in Discussions to Acquire Citigroup</p>

<p>Somali Pirates in Discussions to Acquire Citigroup</p>

<p>November 20 (Bloomberg) – The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.</p>

<p>The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said.</p>

<p>“You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to
offer the shareholders anything,” said Ali.</p>

<p>The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS’s are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody’s and S&P have already issued their top investment grade ratings for the PRBS’s.</p>

<p>Head pirate, Ubu Kalid Shandu, said: “We need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup
at an attractive valuation and to take advantage of TARP capital to grow the business even faster.”</p>

<p>Shandu added, “We don’t call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better.”</p>

<p>*CITI IN TALKS WITH SOMALI PIRATES FOR POSSIBLE CAPITAL INFUSION</p>

<p>*WILL REQUIRE ALL CITI EMPLOYEES TO WEAR PATCH OVER ONE EYE</p>

<p>*SOMALIAN PIRATES APPLY TO BECOME BANK TO ACCESS TARP</p>

<p>*PAULSON: TARP PIRATE EQUITY IS AN `INVESTMENT,’ WILL PAY OFF

*KASHKARI SAYS `SOMALI PIRATES ARE 'FUNDAMENTALLY SOUND' '</p>

<p>*Moody’s upgrade Somali Pirates to AAA</p>

<p>*HUD SAYS SOMALI DHOW FORECLOSURE PROGRAM HAD `VERY LOW’ PARTICPATION</p>

<p>(found on Tickerforum.com)</p>

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<p>Garland, being smarter helps too. Still gamlbing though.</p>

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<p>New York Commercial Real Estate (I’d really hate to own this company today)</p>

<p><a href=“http://stockcharts.com/c-sc/sc?s=SLG&p=W&yr=3&mn=0&dy=0&i=p96546357047&r=34[/url]”>http://stockcharts.com/c-sc/sc?s=SLG&p=W&yr=3&mn=0&dy=0&i=p96546357047&r=34&lt;/a&gt;&lt;/p&gt;

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<p>Hey, getting in a car is gambling. Poker is a skill game. the better you do at reading other players, the more money you will make.</p>

<p>Both my kids are canvassers–the mantra is “there is no good turf or bad turf.” How you do reflects your skill, not the randomness of which doors you knock on. Some canvassers routinely raise more money than others (my D is spectacularly good at this.) </p>

<p>there is uncertainty in everything. but a better than average poker player will over time make money.</p>

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<p>I’m getting a kick out of looking at cnbc.com and bloomberg. Every so called expert has a different take of what is happening and what is going to happen - which makes it perfectly clear that nobody knows what’s going to happen.</p>

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<p>No one knows what is going to happen because there aren’t that many bad loans but there is an unstoppable herd-mentality panic which is likely to be self-fulfilling.</p>

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<p>I don’t like the stock market because it isn’t logical. I have a hard time with stuff that isn’t logical. If I was picking stocks (which I’m not) I’d be looking for solid companies that you know aren’t going away, like Walmart, Microsoft, Procter and Gamble.</p>